Galderma IPO Could be Valued at More Than $14 Billion -- Update

By Dominic Chopping

Galderma's equity could be valued at more than $14 billion ahead of its listing in Switzerland next week after the dermatology group set the price range of its initial public offering.

Galderma, which is backed by European buyout firm EQT among other investors, launched the IPO last week in what would be this year's largest initial public offering so far.

The company said Wednesday that its market capitalization could be between 11.8 billion and 12.6 billion Swiss francs ($13.45 billion-$14.36 billion) based on shares that will be priced at between CHF49 and CHF53 each.

Its enterprise value, which includes both equity and debt, could top $17 billion.

Galderma plans to raise CHF2.3 billion from the share offer.

The final offer price is expected to be published on March 21 with the first day of trading on the SIX Swiss Exchange expected on March 22.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

03-13-24 0723ET